Employment Data Indicates Weakening U.S. Economy

By Jay Norris
01 February 2008 @ 05:46 pm EDT

New concerns about the risk of a recession for the U.S. economy were raised on Friday as the government jobs report showed the first decline in employment in four years. The report noted a net loss of 17,000 jobs for January. This figure was partly offset by an upward revision for December. In addition to the jobs loss, the unemployment rate slipped to 4.9% following a forecast of a steady 5.0%.

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